Reinsurance News
Munich Re news
News on one of the world’s largest reinsurance companies Munich Re.
Munich Re is a leading global reinsurance company and our news covers its announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews.
Munich Re’s HSB renews Cyberwrite risk platform subscription
25th September 2020
Cyber risk analytics firm, Cyberwrite and member of Munich Re Risk Solutions family, HSB have announced that HSB is renewing its subscription to Cyberwrite's cyber risk financial quantification platform to offer tailored cyber insurance policies to businesses across the US. Due to the dramatic increase in remote workforces and a steep ... Read the full article
CoreLogic & Munich Re partner on climate risk modelling
24th September 2020
Property information and analytics provider CoreLogic has partnered with Munich Re to model climate risk exposures for individual properties in Australia and New Zealand. The partnership will combine Munich Re’s climate analytical capabilities with CoreLogic’s property data coverage and connection to banking, valuation, insurance and real estate systems. Together, they will aim ... Read the full article
Munich Re, Alphabet-backed insurtech Next secures $250mn in funding
24th September 2020
Next Insurance, the digital insurtech firm backed by Munich Re, has raised $250 million in a Series D financing round led by Alphabet's independent growth fund, CapitalG. Alphabet is the parent company of Google and several former Google subsidiaries. CapitalG Partner Sumiran Das will join the Next Insurance Board of Directors. Next Insurance ... Read the full article
Munich Re strengthens capital base with green bond issuance
24th September 2020
Global reinsurer Munich Re has issued a subordinated green bond for the first time in its history, with the volume issued totalling €1.25 billion (USD 1.46 billion). The German reinsurance company says that the bond proceeds will be invested in renewable energies and the like, while the issuance also bolsters the ... Read the full article
Munich Re leads financing round for Indian insurtech startup
17th September 2020
It has been announced that Munich Re has led the financing round for an Indian insurtech startup, Acko. The startup, which is taking on India’s outdated insurance industry with a digital-first product that has already received backing from Amazon, today announced a new financing round. So far it has raised $60 million ... Read the full article
Munich Re to partner with digital agriculture firm Farmers Edge
15th September 2020
Global reinsurer Munich Re is partnering with digital agriculture firm, Farmers Edge, on data-driven parametric weather insurance solutions. Farmers Edge says Munich Re’s reinsurance expertise will help combat risks associated with parametric coverage while also establishing business resiliency amid the COVID-19 pandemic. The Farmers Edge risk management platform FarmCommand helps automate all ... Read the full article
Munich Re: What can we learn from COVID-19 in terms of climate change?
14th September 2020
Munich Re has released its US white paper, Reimagining Resilience in a Post Pandemic World, which explores how society might become more resilient to disastrous situations similar to the COVID-19 crisis, such as climate change risk. As COVID-19 is continuing to have a huge global disruption on societies and economies, global ... Read the full article
Munich Re to stop covering businesses against pandemic losses: reports
11th September 2020
Global reinsurer Munich Re will no longer be providing cover to businesses against pandemic losses, according to reports from Bloomberg. This comes after the company took a €1.5 billion hit in the first half of 2020 as a result of the the COVID-19 pandemic. Upon the release of its financial results ... Read the full article
Munich Re endorses state-backed pools for pandemic risk
8th September 2020
Munich Re has argued that pandemic risks are “not insurable by the private sector alone” and has endorsed the use of state-backed risk pools to mitigate their impact. The reinsurer notes that the coronavirus pandemic has highlighted how vulnerable the world still is to very large risks, and says that more ... Read the full article
“Undisputed” re/insurance market hardening to persist: Jeworrek, Munich Re
7th September 2020
Re/insurance market hardening, in relation to price increases and renewed discussions around terms and conditions (T&Cs), is expected for "probably the next two years, or even a bit longer," according to Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance at Munich Re. With the annual, September meeting of the reinsurance industry ... Read the full article
Munich Re updates loss estimates for 2020 events
7th September 2020
Reinsurer Munich Re has released updated loss estimates for some of the major loss events of the year, including for the major hurricanes this summer, the coronavirus pandemic, and the Beirut explosion. The company is anticipating a low triple-digit-million euro amount in claims expenditure for the damage caused by hurricanes Hanna, ... Read the full article
Munich Re concludes reinsurance deal with Softlogic Life
3rd September 2020
Munich Re has concluded a $15 million reinsurance transaction with Softlogic Life Insurance PLC, a life insurer based in Sri Lanka. The deal, which Softlogic Life views as an innovative step for the South Asian Life and Health Reinsurance arena, was competed in March 2020. The company also announced deals with Development ... Read the full article
Average combined ratio of the world’s top reinsurers declined in 2019
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
European reinsurers top tier globally by business profile: Fitch
24th August 2020
The four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR SE are among the top tier of global reinsurers by business profile, Fitch Ratings says. Large franchises and a high degree of diversification underpin Fitch's assessment of very strong business profile for each group. The capital adequacy of ... Read the full article
COVID-19’s impact on Europe’s top reinsurers considerable, varied: Fitch
14th August 2020
Despite the H120 results from the four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR - revealing considerable pandemic-related claims, the impact of the pandemic on the four reinsurers varied significantly. This is in part due to differences in exposure to lines of business affected by the ... Read the full article